Suffolk County Transfer Tax Calculator
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Suffolk County Transfer Tax Calculator: What to Expect
This simple calculator can help home sellers in Suffolk County estimate their transfer taxes. To get a ballpark idea of the transfer fees you might pay in Long Island, enter your home’s estimated selling price above.
Need a selling price? Try HomeLight’s free Home Value Estimator to see what your house might be worth. To receive a more accurate listing price, contact a top Suffolk County real estate agent and request a Comparative Market Analysis (CMA), a report that will compare your home against nearby listed and recently sold properties.
How the Suffolk County Transfer Tax is Calculated
Suffolk County’s real estate transfer tax is $2.00 per $500 of the property’s sale price.
For example, if you sold your home for $660,000 (Suffolk County’s median home price), you could expect to pay $2,640 in Suffolk County transfer taxes. Sellers are also required to pay the state of New York’s transfer tax, which is the same as Suffolk County’s.
»Learn more: Understanding Suffolk County’s Transfer Tax: A Quick Guide
See the bigger home sale picture: To see what your entire home sale might cost, try HomeLight’s New York Seller Closing Cost Calculator. You’ll also get a preliminary look at your estimated net proceeds.
Does the Seller Always Pay the Suffolk County Transfer Tax?
While it’s customary for the seller to pay the Suffolk County transfer tax, who pays can sometimes be a point of negotiation between the buyer and seller during the closing process.
Some Suffolk County home sales may be exempt, such as those provided as the result of a will or transfer to or between government entities. For a complete list, consult the state of New York’s list of transfer tax exemptions.
Make Buying and Selling Easier: Most Suffolk County sellers are also buyers looking to purchase a new home. With HomeLight’s Buy Before You Sell program, you can make a non-contingent offer on your new home and only move once. Watch this short video to learn more.
More Resources to Plan Your Suffolk County Home Sale
Here are some additional tools to help you plan your Suffolk County home sale:
- Net Proceeds Calculator
- Map of recently sold homes in Suffolk County
- Listing Agent Match platform
- Home Value Estimator
- Best Time to Sell Calculator
- Agent Commission Calculator
Sell fast without paying fees or commissions: Get a cash offer today.
With HomeLight’s Simple Sale platform, you can receive a no-obligation, all-cash offer for your Suffolk County home in 24 hours. If you accept the offer, you can close in as few as 10 days. Answer a few questions about your Suffolk County home to get started. Along with your cash offer, you’ll also receive an expert estimate of what a top Suffolk County agent might be able to get for your home. Receive both selling options with one tool.
As you look ahead to your next home purchase, here are some helpful buyer tools: